At The Tax Center, we do more than tax filing. Our team of accounting professionals take a comprehensive assessment of your finances and create a forecast through the year to keep your business at a healthy, prosperous state. While it may feel daunting to let an outsider in on the intimate details of how your business is run, partnering with The Tax Center will help you to achieve your goals and set you up for long-term success by preparing top quality income statements and balance sheets on a yearly, quarterly, or monthly basis as desired. Using your business transactions, we carefully and professionally classify your transactions to produce financial reports that are concise and meaningful.
Effective tax preparation and planning can help you to minimize your future tax liability. The Tax Center will prepare your personal and business tax returns with accuracy guaranteed – no matter how complex your situation, we review everything with you and file your taxes for you. We proactively manage both your personal and your business tax issues, including understanding how to adequately estimate your annual tax liability. By having us on your team, you are more likely to benefit from the latest federal, state and local tax legislation and other developments affecting you and your business. We are constantly identifying new ways to reduce federal, state or local tax liabilities.
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Need assistance with IRS tax relief? We’ve got your back! The Tax Center, LLC is a full-service tax resolution firm specializes in resolving and reducing IRS or State Tax Debt. Our unique solution-focused approach provides you with a detailed understanding of your options before you pay any fees towards resolution services. We realize that owing money to the IRS can be stressful and intimidating. That’s why we help taxpayers lower stress and lower debt by helping you every step of the way.
Offer in Compromise Program – An agreement between a taxpayer and the IRS that settles a taxpayer’s tax liabilities for less than the full amount owed.
Penalty Abatement – It allows a first-time noncompliant taxpayer to request abatement of certain penalties for a single tax period.
Partial Pay Installment Agreement – Similar to a regular installment agreement where you make monthly payments to the IRS for taxes owed. However, you are only paying back part of the taxes you owe over time.
Starting a business right from day one is important to establish the right foundation and reduce financial risks. The Tax Center uses proprietary technology to recommend the best business type for your specific situation. It’s fast, simple, and cost-effective. The business may need to be a separate legal entity from the owner of the business. If the business owner is mixing personal funds with business funds, the owner’s personal funds might be at risk. The Tax Center has saved companies thousands of dollars by advising on filing the appropriate entity type (e.g. Sole proprietor, LLC, Partnership, S Corporation or Corporation) designation and staying compliant with the filing guidelines. We can assist in setting up your business with the right legal and tax entities and help you file all the legal forms with the proper authorities.
Individuals, including sole proprietors, partners and S corporation shareholders, may need to make estimated tax payments if they expect to owe at least $1,000 when they file their tax return or if they owed tax in the prior year. Schedule a consultation to determine if you should pay estimated taxes, when to pay and how to calculate estimated taxes.
Creating a budget is an important pillar of your overall success and security. It allows you to oversee and better understand whether you have enough incoming money to pay expenses. The benefits of budgeting include providing designated limits for spending and achieving financial goals. Schedule a consultation to keep your eye on the financial prize and to shed light on bad spending habits.
If you have a significant amount of debt – whether from credit cards, a mortgage, an auto loan, student loans or otherwise – chances are you’ve thought about the best ways to reduce what you owe. Paying down your debt IS saving. In fact, when you reduce your debt you save money on interest and fees. Schedule a consultation to determine the appropriate short and long-term strategies to reduce or eliminate your debt.
Financial health is a term used to describe the state of one’s personal monetary affairs. Being in good financial health is a key part of being in good health overall because the stress that results from not being in good financial health can easily lead to actual physical disease. Schedule a consultation to develop a personal financial plan to ensure that you are on track to reach your financial goals.